eToro Company Launches Crypto Exchange
The eToro crypto platform division, which is engaged in the development of blockchain technology, launched a cryptocurrency exchange with the support of stablecoins, as follows from the announcement on the official website of eToro.
The new trading platform is called eToroX; it will work under the rules of the regulatory authorities of Gibraltar. The listing of the crypto exchange will feature six digital assets at first, including bitcoin, ether, Ripple (XRP), Litecoin, DASH, and Bitcoin Cash.
EToro has also launched stablecoins based on various fiat currencies, including the US dollar, British pound sterling, euro, Japanese yen, and the national currencies of Australia, New Zealand, Switzerland, Canada, China, and Russia. The stablecoins pegged to precious metals, gold and silver, will also be presented on eToroX. In total, about forty trading pairs will be available to the exchange customers.
eToro does not intend to limit itself to just these assets and promises that new cryptocurrencies will be added to the listing of the exchange soon. The company will encourage other trading platforms if they add its stablecoins to their lists.
Over the past six months, eToro has been recognized for two achievements: in the fall of 2018, a crypto wallet with support for bitcoin, ether, and Litecoin was introduced, and in March 2019, the company acquired a Danish startup Firmo. Commenting on this deal, Yoni Assia, a co-founder and the CEO of eToro, stated that it would help his company enter the market with tokenized assets.